New York's Attorney General Sues Donald Trump's Foundation, Bitcoin Prices Are Being Manipulated, Study Shows

  • FUNNY MONEY: The New York Attorney General's office is suing to dissolve the Donald J. Trump Foundation for allegedly using the foundation's fundraising for personal gain. 
  • BOARD SEAT EQUALITY: California's state Senate passed a board seat equality bill earlier this month. Racked reports on how this could change the makeup of the executive suite at different companies. 
  • BIG SHOCK: New research shows that bitcoin prices are being manipulated, according to CNN
  • IS THAT A BEAR?: Big banks slipped into bear market territory this week, according to the Financial Times. Though the rest of the stock market didn't slip, it could be a sign of an imminent recession. 
  • IMMIGRATION UPDATE: An undocumented mother's infant daughter was taken away as she was breastfeeding her, CNN reports. 
  • SCIENTIFIC SEXUAL HARASSMENT: A landmark study on science jobs and sexual harassment had dismal results, STAT News reports. 

- Alicia McElhaney / She Spends Issue #58

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EPA Chief Used Power To Help Wife, Himself; Medicare and Social Security Running Out Faster Than Expected

  • EQUAL PAY DAY: The Equal Pay Act was passed in the United States 55 years ago Thursday, but the wage gap still persists. Check out what people on Twitterare saying about the problem. 
  • PRUITT PROBLEMS: Environmental Protection Agency chief Scott Pruitt had a busy week. The Washington Post reported that he enlisted staff to help buy his wife a Chik-fil-A franchise. A separate report said he asked staff to track down difficult-to-find lotion. 
  • KATE SPADE: Beloved handbag designer Kate Spade died by suicide this week, the New York Times reports. If you're struggling with your mental health, reach out
  • SOCIAL PROGRAM INSOLVENCY: Medicare and social security are running out at a faster rate than expected, The Washington Post reports. 
  • PROBLEM WITH ZELL: Real estate investor Sam Zell tried to talk about gender diversity and the #metoo movement at a conference this week, only to end up using a vulgarity while doing it, Bloomberg reports. 
  • PAY DAY FOR R+F: The billionaire dermatologists who own Rodan + Fields stand to make a lot of money from the leveraged loan market, according toBloomberg

- Alicia McElhaney / She Spends Issue #57

Trump Introduces New Tariffs, Equal Rights Amendment Inches Closer to Full Ratification

  • TARIFF TROUBLE: President Donald Trump announced Thursday that the United States will impose tariffs on steel and aluminum imports from some of its closest allies, including Canada, Mexico and the European Union, the Wall Street Journal reports. These groups announced that they would impose retaliatory tariffs on similar goods from the United States, sparking fears that a larger trade war could be afoot.
  • CONTROVERSIAL OPINION: Some millennial women are worried and ashamed of out-earning their male partners, according to CNBC.
  • EQUAL RIGHTS AMENDMENT: Illinois voted to ratify the Equal Rights Amendment this week, Time reports. The Constitutional amendment, which would ensure equal rights for all citizens, regardless of sex, is only one state away from becoming an actual change to the U.S. Constitution.
  • BOUJEE BABE: The She Spends Facebook group is buzzing about Anna Delvey, the con artist who tricked many into believing she was a wealthy socialite. The Cut explains how she rose to the upper echelons of New York society, and subsequently fell when she couldn't make good on the money promises shemade.
  • DEATH TOLL: A Harvard analysis of Hurricane Maria's death toll in Puerto Rico shows that roughly 6,000 people died in the storm, rather than the 64 people the government initially reported, according to Buzzfeed.

- Alicia McElhaney / She Spends Issue #56

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Banking Rules Rolled Back This Week, The NYSE Welcomes Its First Female COO

  • RULE ROLLBACK: The major banking regulations that came out of the Great Recession were partially rolled back by Congress and President Donald TrumpThursday, CNBC reports. The rollback of regulations will benefit mid-sized banks and community lenders.
  • ABORTION FUNDING: President Donald Trump announced late last week that he planned to ban the use of family planning clinics that refer women for abortions, The Hill reports.
  • WOMEN IN DEBT: Just one-fifth of the employees in the private debt industry are women, according to The Lead Left. Yikes. 
  • NYSE: The New York Stock Exchange hired its first female chief operating officer in its 226 years of existence this week, the Wall Street Journal reports
  • NO NORTH KOREA MEETING: President Donald Trump's decision to pull out of his meeting with North Korea's leader resulted in a stock sell off Thursday, according to Reuters.  
  • GOVERNMENT-BACKED MORTGAGES: Small-time bankers are making a ton of money by selling home loans to customers with weak credit or low income,Bloomberg reports. Sounds like the catalyst for the Great Recession to us.

- Alicia McElhaney / She Spends Issue #55

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Donald Trump Helps ZTE Corp. With Business, Women With Working Moms Make More on Average

  • TRUMPED UP ZTE: President Donald Trump said he was working with Chinese President Xi Jinping to keep telecommunications company ZTE Corp. in business, the Wall Street Journal reports. 
  • WORKING MAMAS: Women who grew up with working moms make 23%more than their counterparts who had stay-at-home mothers, Time reports. 
  • RETIREMENT SAVINGS: The internet exploded this week when Marketplaceshared a story on how you should have twice your salary saved by age 35 for retirement.
  • TROUBLES AT TESLA: A board member at Tesla was temporarily ousted for allegedly sexually harassing women at his own venture capital firm. He could now be permanently removed from Tesla's board, according to Markets Insider
  • LADIES GET A LAWSUIT: Remember that Ladies Get Paid lawsuit? The men who sued the group are on a bit of a warpath, according to NBC San Diego

- Alicia McElhaney / She Spends Issue #54

 Illustration by Libby Vanderploeg : https://giphy.com/libbyvanderploeg/

Illustration by Libby Vanderploeg : https://giphy.com/libbyvanderploeg/

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Stormy Daniels' Lawyer Reveals Shady Payments, Ladies Get Paid Gets Sued

  • WTF FINANCING: This week, Stormy Daniels' lawyer released documents that show that AT&T, biotech giant Novartis and a private equity firm called Columbus Nova made payments to a shell company owned by Michael Cohen, Donald Trump's lawyer, in exchange for access to the president. Bloomberg has more on the developing story. 
  • LADIES GET PAID: A men's rights group sued Ladies Get Paid for discrimination this week. Ladies Get Paid is raising money to settle and continue working to ensure that women get paid what they're worth. 
  • STYLE SPENDING: An app completely changed the way one reader looks at spending on clothing. Her Glamour story explains.
  • TRIPLE F: Venture capital firm, Female Founders Fund, has closed on its latest round of funding, TechCrunch reports. 
  • MAGIC MATH: This Bloomberg piece shows how companies try to use math to make it seem like they no longer have a wage gap. 
  • TAX PROBLEMS: The Baltimore Police Commissioner was charged with failure to file taxes this week. Darryl De Sousa didn't pay taxes for three years, according to the Maryland Attorney General's Office
  • BANKRUPTCY BUYOUT: The Weinstein Company has been acquired after filing for bankruptcy, according to Institutional Investor. 

- Alicia McElhaney / She Spends Issue #53

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T-Mobile, Sprint Finally Announce Plans to Merge, Birchbox Finds a Buyer in its Hedge Fund Investor

  • MEGA MERGER: Sprint and T-Mobile have finally come to a merger agreement,The New York Times reported this week. The deal is still subject to Federal Trade Commission approval, which industry experts believe is unlikely as the deal currently stands. 
  • #METOO NEWS: Lauren Bonner, the Point72 employee who is suing her company for gender discrimination, is still showing up to work, according to The New Yorker
  • HEDGING ITS BET: Birchbox's venture capitalist investors were bought out this week by hedge fund Viking Global Investors, according to ReCode
  • SOUNDS DANGEROUS: One of the world's largest asset managers, Blackstone Group, is pushing into the subprime auto loan market, according to Financial Times
  • TALK ABOUT IT: The majority of women would rather talk about death than money, according to Marketwatch
  • SALE FAIL: The sale of Anthony Scaramucci's hedge fund, Skybridge, to HNA Capital Holding, a Chinese investment company, has fallen through, Institutional Investor reports. 
  • READING WAGE GAP: Books written by women are priced 45 percent lower than those written by men, a study revealed this week, according to The Guardian

- Alicia McElhaney / She Spends Issue #55

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Ronny Jackson Withdraws VA Nomination, California May Require At Least One Woman to Sit On Company Boards

  • SHADY AFFAIRS: Ronny Jackson, the White House physician who was President Donald Trump's nominee to head up the Department of Veterans Affairs, withdrew his nomination this week after it was revealed by the New York Times that he was involved in a drunk driving accident and overprescribed opiates to certain patients. 
  • WEWORK'S WEIRD ACCOUNTING: WeWork has a funny way of explaining its value, The Wall Street Journal reports. In short, they used the phrase "community adjusted Ebitda," which calculates their earnings differently than traditional Ebitda.
  • BOARD EQUALITY: California could become the first state to mandate that at least one woman is on the board of every company headquartered there,Bloomberg reports. 
  • FEELING FLEECED: One woman wore a fleece vest, the fashion statement synonymous with finance bros, for a week. She wrote a Buzzfeed article about how it felt. 
  • THE MAGICIAN OF MANHATTAN: A Manhattan socialite duped the author of this Vanity Fair piece and left her out nearly $62,000. Read how in this juicy, travel-filled piece. 
  • SEND TO A MAN IN YOUR LIFE: This piece from Quartz breaks down emotional labor for men. Definitely forwarding to all the woke dudes in our lives. 
  • HBCU HOMECOMING: Beyonce and Google have teamed up to offer even more scholarships to eight Historically Black Colleges and Universities, Teen Vogue reports. 

- Alicia McElhaney / She Spends Issue #51

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FINRA Rarely Rules in Favor of Women in Sexual Harassment Cases, Elon Musk Needs a Couch (Apparently)

  • LOBBY NEWS: There was a lot of campaign finance news this week from both sides of the political aisle. The Wall Street Journal detailed how Democratic lobbyist Tony Podesta lost it all. Meanwhile, the Republican National Committee deputy finance chair stepped down after it was reported that he paid off a Playboy bunny to the tune of $1.6 million, according to Politico
  • EGREGIOUS RECORD: In 30 years, only 17 out of 98 women have won sexual harassment claims before FINRA, Wall Street's oversight body, The Interceptreports. 
  • GROUPON GAL: Tiffany Haddish has the best budgeting advice. She told W Magazine: "Whatever the bag costs, I should be able to keep that amount of cash in the bag. If it’s a $300 purse, I have to put $300 in cash in that purse. I do not want a bag that is more expensive than the cash I have to put in it."
  • CROWDFUNDING FOR A BILLIONAIRE: Elon Musk apparently can't relax, so fans are crowdfunding to buy him a couch, Buzzfeed reports. Yeah, we don't get it either. 
  • STATE STREET: State Street's iconic advertisement, the Fearless Girl, is now moving to the New York Stock Exchange, Markets Insider reports. 
  • PRIME AUDIENCE: Amazon CEO Jeff Bezos finally revealed this week that Amazon Prime has 100 million subscribers, Recode reports. 
  • UNLAWFUL TOUCHING: Ernst & Young partner Jessica Casucci has filed a sexual harassment lawsuit against E&Y, which is one of the largest accounting law firms in the country, CNBC reports. 

- Alicia McElhaney / She Spends Issue #50

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Mark Zuckerberg Appears Before Congress, T-Mobile, Sprint Ponder Merger

  • GOLDEN BOY NO MORE: The biggest news in business this week was that Mark Zuckerberg, founder of Facebook, appeared before Congress for the first time. The Economist breaks down what to make of his testimony. 
  • MOBILE MERGER: Somehow T-Mobile and Sprint are still trying to work out a deal, despite the Federal Trade Commission previously shutting the acquisition down, Markets Insider reports. 
  • THERANOS IS DONE: Theranos, the biotech company that never really made anything, despite claiming to, has fired the remainder of its staff, the Wall Street Journal reports. 
  • MAJORITY MINORITY: Black men are grappling with their identity as a racial minority and a gender majority, according to Harvard Business Review
  • ZITS AND WEALTH: Good skin can be a signifier of wealth. Racked breaks this down in their new Acne Issue. 
  • TRADE TRIBULATIONS: Want to go deep on the ongoing trade tensions between China and the United States? Bloomberg Businessweek has an awesome, detailed read on the unintended consequences of a trade war.  

- Alicia McElhaney / She Spends Issue #49

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Trade War Heats Up, Walmart Ponders A Health Care Acquisition

  • TRADE WAR: The trade war between the United States and China heated up this week, with both countries floating potential tariffs on products like soybeans and aluminum. CNBC explains how we'll know if it's an actual trade war, not just a symbolic beef. 
  • EMPIRE FALLING: Bill Ackman's hedge fund, Pershing Square, is bleeding money, according to the Wall Street Journal. Ackman is the notorious investor who shorted Herbalife and Chipotle, among other companies.  
  • MORE EXPERIENCE, MORE PROBLEMS: Apparently too much experience is a bad thing, at least for women in tech, according to Recode. As women gain experience in tech, the pay gap between men and women in the field widens. 
  • THAT JOKE ISN'T FUNNY ANYMORE: Elon Musk made a bankruptcy joke about his electric car company, Tesla, this week, and investors freaked out, theWall Street Journal reports. 
  • SECONDHAND SHOPPING: Online thrift stores are succeeding, but not at the expense of their brick-and-mortar peers like Beacon's Closet and Buffalo Exchange, Racked reports. 
  • MERCER'S AT IT AGAIN: Robert Mercer, the billionaire who formerly headed up hedge fund Renaissance Technologies, funded a secret group that worked with Facebook and Google to serve anti-Muslim ads to swing state voters,OpenSecrets reports. 
  • BIG DEAL: Walmart is considering an acquisition of healthcare giant Humana, which could have major implications for both the retail and insurance industries,Markets Insider reports.

- Alicia McElhaney / She Spends Issue #48

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Tesla Stock Flounders, U.K. Pay Reporting Shows Wage Gap Is Real

  • DATA BREACH: Under Armour admitted to a data breach this week that affected 150 million MyFitnessPal accounts, CNBC reports. 
  • #TBT: Things have changed a lot since the financial crisis. The Wall Street Journal reports on how. 
  • TESLA WORRIES: Electric car maker Tesla struggled this week after credit rating agency Moody's downgraded its debt. After that, executives at the company started pushing employees to build more cars to "prove the haters wrong,"Bloomberg reports.
  • MORE GENDER GAP VINDICATION: The United Kingdom's gender pay reporting, which is now mandatory for public companies, is showing that the wage gap is real, Bloomberg reports. 
  • BOGUS INVESTIGATION: The New York Human Rights Commission is investigating The Wing, a women's club based in the city, Jezebel reports. 
  • MERCER PLAYS COP: This Bloomberg piece on former hedge fund CEO Robert Mercer is wild. It details how Mercer plays cop in a tiny New Mexico town during a few weeks of each year. 
  • GOOP CAPITAL: Gwyneth Paltrow's health and wellness company Goop raised $50 million in Series C financing from venture capital firms including NEA, Lightspeed and Felix Capital, according to Forbes

- Alicia McElhaney / She Spends Issue #48

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More Tariffs Means More Problems for the Stock Market, Facebook Struggles With Cambridge Analytica Scandal

  • CHINA TARIFFS: On Thursday, President Donald Trump announced a new round of tariffs, this time hitting China with taxes on roughly $50 billion of imports. As a result, the stock market rapidly fell Thursday afternoon, the Wall Street Journalreports.
  • FOREIGN POLICY FLUB: More than 20 people met with Crown Prince Mohammed bin Salman of Saudi Arabia alongside President Donald Trump. None of them were women, the New York Times reports.
  • PLUS-SIZE RETURNS: The plus-size clothing industry is ripe for venture capital investments, Racked reports
  • CAMBRIDGE DATA PROBS: A data breach by Cambridge Analytica, a right-wing research firm, posed major problems for Facebook this week. Vox has an awesome explainer up on what actually happened. 
  • OMNIBUS BILL: The House of Representatives passed an omnibus spending billon Thursday. The bill would avert a government shutdown and includes a myriad of provisions, Politico reports. 
  • MARCH FOR OUR LIVES: The March For Our Lives takes place this weekend in cities and small towns across the United States. If you're interested in attending,here's a link

- Alicia McElhaney / She Spends Issue #46

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Theranos Charged with Massive Fraud, Toys 'R' Us Plans to Close Its Doors

  • BIOTECH BOMBSHELL: Theranos executives Elizabeth Holmes and Ramesh “Sunny” Balwani have been charged with "massive fraud" by the SEC,Institutional Investor reports. This is after the two claimed for years that their purportedly revolutionary blood testing device actually worked. Spoiler alert: it didn't.
  • THE END: Toys 'R' Us will soon close its doors, but Amazon isn't to blame, CNNreports. Instead, blame the private equity firms that saddled the toy retailer with debt through a leveraged buyout
  • THE TIPPING EQUATION: The New York Times released an investigative report this week on the ways servers have to endure sexual harassment to ensure they are well-tipped. 
  • THE MEDICAL WAGE GAP: Female doctors are paid far less than male doctors, according to Bloomberg. Related: The wage gap starts when we're teens, according to the Guardian
  • 21 SAVAGE ON MONEY: Rapper 21 Savage has announced that he's launching a financial literacy program for kids, according to All Black Media
  • TESLA EXODUS: Another Tesla executive has left the company, Markets Insiderreports. This is the second finance executive to leave the tech company in the past week. 
  • SNAP BETTER HAVE RIH'S MONEY: Snapchat's stock fell nearly 5% on  Thursday after the app ran a problematic af ad about Rihanna's abuse by Chris Brown, Reuters reports. This isn't the first time the app's stock has fallen on celebrity input. In February, Kylie Jenner tweeted about Snapchat's updates and the app's stock lost $1.3 billion in value, according to Time
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President Trump Enacts Tariffs on Steel and Aluminum, Amazon Appeals to Low-Income Customers

  • TARIFF UPDATE: Last week, President Donald Trump announced major tariffs on steel and aluminum imported from foreign countries. He signed the final tariffson Thursday, which spare Canadian and Mexican imports from being taxed, theWall Street Journal reports. The auto industry, which is already floundering, will likely be the most affected by these changes, according to Markets Insider
  • AMAZON'S UNBANKING: Amazon is making inroads with low-income customers, offering a low-cost version of Amazon Prime to Medicaid recipients,Quartz reports. They're also looking to offer checking accounts to customers without bank accounts, according to Markets Insider.  
  • REBEL GIRLS: Benefit Cosmetics has a storied past, according to Shondaland, which notes that the company's iconic Benetint was created after a stripper came to the store in search of nipple rouge. 
  • WORK-LIFE BALANCE FOR WOMEN OF COLOR: This long read in Slateincludes some important statistics about the growing wage gap between white women and women of color. Take a half hour this weekend to dig into it. 
  • WOMEN IN PRIVATE EQUITY: Women produce better returns on behalf of private equity firms, this column in Bloomberg Gadfly notes.
  • #METOO IN FINANCE: The problem of gender inequity still exists in finance and millennial women are afraid to talk about it, according to the Financial Times
  • WHERE ARE THE WOMEN AT?: About 90% of portfolio managers are men, but not because men are better at these jobs, according to MarketWatch

- Alicia McElhaney / She Spends Issue #44

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Trump Announces Major Tariffs, Retailers Announce Gun Sale Regulations

  • FOREIGN TAX: On Thursday, President Donald Trump announced a 25% tariff on foreign steel and a 10% tariff on foreign aluminum. CNBC reports that the markets fell sharply on the news and that it could lead to retaliatory tariffs from other countries.
  • GUN REGS: Three major gun retailers — Dick's Sporting Goods, Walmart and Kroger — have added regulations to curb gun purchases, the Wall Street Journalreports. 
  • WALL STREET'S #MeToo MOMENT: Wall Street has a shameful history of workplace sexual harassment and assault, Vanity Fair reports. 
  • CHANGES AT FIDELITY: Mutual fund giant Fidelity may change the way it rewards its stock pickers in light of the #metoo movement, the Wall Street Journal reports. 
  • WHAT ABOUT WAGES?: The U.S. economy is booming, except for wages.Bloomberg breaks down why. 

- Alicia McElhaney / She Spends Issue #43

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Barclays Pays Women Significantly Less Money than Men, Victoria's Secret's Parent Company Struggles to Stay Afloat

  • BARCLAYS PAY GAP: Barclays PLC, a UK-based bank, revealed that it pays female investment bankers 48% of what it pays their male counterparts. The gap grows to 79% for discretionary bonuses, according to Bloomberg
  • VICTORIA'S SECRET STRUGGLE: The parent company of Victoria's Secret, L Brands, is floundering, according to Markets Insider. Panty prices have dropped and the brand may have focused too much on its PINK offerings. Hate to say we told ya so, but we told ya so 
  • BEAUTY NEWS: Glossier has snagged a third round of venture capital funding worth $52 million, according to Recode. Meanwhile, its cheaper counterpart, Deciem (The Ordinary's parent company), is struggling as its founder has fired the beauty brand's co-CEO rather publicly, Racked reports. And ClassPass is adding wellness and beauty treatments to its offerings, Byrdiesays. 
  • BLACK VENTURE CAPITALISTS: We love this list of 25 black venture capitalists to watch in 2018 from Pitchbook. Want to know what it's like to raise VC money as a black woman in 2018? Check out this Refinery29 piece. 
  • HEDGE STRUGGLES: A major reason hedge funds are struggling to keep pace with other investment firms? Its their lack of diversity, according to Business Insider.
  • MEDICAL #METOO: Women working at hospitals and in the medical field struggle with sexual harassment and assault too, NBC reports. 

- Alicia McElhaney / She Spends Issue #42

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Banks Deny People of Color Home Loans, One Company Controls Almost Half of All Student Loan Payments

  • KEPT OUT: Banks are keeping people of color from buying homes by routinely denying them home loans at fair rates, the Associated Press reports. According to the report, African Americans face the most discrimination in southern cities like Mobile, Alabama, and Gainesville, Florida, while Latinos are most likely to face this type of discrimination in Iowa City, Iowa. 
  • STUDENT LOAN MONOPOLY: One company will now handle close to half of all student loan payments, Marketwatch reports. 
  • SEEING EVIL: What happens when you see sexual harassment take place at work? Sexual harassment affects not only the victim but also those who witness it taking place, according to CNN.
  • RESTAURANT WAGES: The tipped minimum wage system has encouraged sexual harassment at restaurants, according to Rewire
  • MONEY IS POWER: Margaret Atwood, the author of The Handmaid's Tale and other novels, shared her money diary with Wealthsimple
  • TACO 'BOUT IT: Chipotle has hired Taco Bell's now-former CEO to do damage control, according to Markets Insider
  • GOT MILK?: Breast milk isn't free, Slate reminds us. It costs women time and effort to feed their babies. 

- Alicia McElhaney / She Spends Issue #41

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Stock Market Flounders For One Week: Is This The Top?

  • DOW DROP: The Dow Jones Industrial Average – a marker for the stock market's performance on the whole – has been falling since last Friday reports CNBC.
  • WORKING MOMS: Moms are punished in the workplace, even when they own their own businesses, according to The Washington Post
  • PAY CUTS FOR MEN: Men taking pay cuts won't do much to change the wage gap, CNN reports. 
  • LULU DRAMA: Lululemon's shares fell this week after its CEO abruptly resigned for violating the company's standards, Business Insider reports.  
  • CLASS PASSING: How do people who grew up poor, but now are considered wealthy, learn the rules of the rich? This Guardian piece explores answers to that question.
  • BROKE BITCHES: Our parents are broke and so are we, according to Bustle. So how do we deal? 

- Alicia McElhaney / She Spends Issue #40

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Study: Wage Gap is a Result of Sexism (Duh)

  • WAGE GAP NEWS: The wage gap is a result of sexism, not low paying industries, new research shows. According to Buzzfeed, the study shows that men and women add the same amount of value to their workplace, but are compensated completely differently for that value. Yikes.
  • #FINANCETOO: The finance industry is trying to cash in on #metoo, according to The New York Times. They are offering victims of sexual assault money ahead of lawsuits. That money, though, comes with a high interest rate. 
  • BAD NEWS FOR BITCOIN: The Securities and Exchange Commission (the main regulator of the stock market in the U.S.), shut down an initial coin offering this week, Business Insider reports.
  • FOR RICHER OR POORER: This Buzzfeed piece on losing wealth during a divorce is an important read.
  • HEALTHCARE PARTNERS: JPMorgan, Amazon and Berkshire Hathaway announced a partnership to cut down on healthcare costs this week,Marketwatch reports. 

- Alicia McElhaney / She Spends Issue #39

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